Loonie watch: Canadian dollar hits four-year low as 71 cent U.S. threshold nears

[CdnFox]

Canadian dollar hits four-year low as 71 cent U.S. threshold nears | Financial Post

 

And that my friends is the sound of everything getting more expensive

Edited November 15, 2024 by CdnFox

[herbie]

Yeah it will.

But have you ever heard of any govt worried about propping it up?
Not a chance.

 

[CdnFox]

13 minutes ago, herbie said:

Yeah it will.

But have you ever heard of any govt worried about propping it up?
Not a chance.

 

Sure. Harper did. It was a concern for him that we remain competitive as far as the dollar went.

[August1991]

The value of Canada is not the Canadian dollar price of a US dollar.

[CdnFox]

54 minutes ago, August1991 said:

The value of Canada is not the Canadian dollar price of a US dollar.

The cost of things Canadians want to buy is. And that includes the gear that makes our food, provides our shelter, it includes energy that we import as well as all of our goods. This will make it harder to live.

In the past Canadians business success along with our strong energy production make sure we stayed competitive to the American dollar even when America was undergoing good times. But Justin Trudeau has destroyed that and now everything is going to cost us more

[August1991]

1 hour ago, CdnFox said:

The cost of things Canadians want to buy is. And that includes the gear that makes our food, provides our shelter, it includes energy that we import as well as all of our goods. This will make it harder to live.

In the past Canadians business success along with our strong energy production make sure we stayed competitive to the American dollar even when America was undergoing good times. But Justin Trudeau has destroyed that and now everything is going to cost us more

I largely agree - across Canada, we produce food and energy.

Argentina? Total f%ck up. Why?

[CdnFox]

1 hour ago, August1991 said:

I largely agree - across Canada, we produce food and energy.

Argentina? Total f%ck up. Why?

It has been postulated that it's for the same problems that we're facing right now. Argentina and Canada for quite some time had pretty much parallel economic trajectories in Argentina was set to become a very prosperous nation much as Canada or Australia or any of the other similar nations would be. However bad policy made it less affordable and less productive and investments stopped flowing in and they took a downward spiral and never recovered.

Now we are experiencing something similar. There is a very real concern that Canada may Argentina itself so to speak

here's an article that outlines the concept but there are many scholarly works and studies out there as well. 

Opinion: Canada isn’t broken, but it will be if we don’t make the right decisions - The Globe and Mail 

[August1991]

35 minutes ago, CdnFox said:

....

Now we are experiencing something similar. There is a very real concern that Canada may Argentina itself so to speak

---

People in Argentina have a tendency to go to extremes.

Canada has a federal system.

 

[CdnFox]

1 hour ago, August1991 said:

People in Argentina have a tendency to go to extremes.

Canada has a federal system.

 

I'd say the destruction caused by the current government is pretty extreme. Largest debt increase in history with more money borrowed than all other Prime Ministers combined, largest deficits, first time in our history that investments has left Canada, 25% of people expected to use food banks this winter, drastically reduced GDP per capita which means reduced standard of living, etc etc

We may not be an extreme people. But our government was. And that damage is done

[Aristides]

The USD has been on a tear against other currencies since 2022. not an excuse for our governments policies but we are not alone.

Edited November 17, 2024 by Aristides

[CdnFox]

2 minutes ago, Aristides said:

The USD has been on a tear against other currencies since 2022. not an excuse for our governments policies but we are not alone.

It's been on a tear since trump got elected. The business community seem to like him. But the problem is is that our dollar has been going down and pretty quick companies are going to ask why they're headquartered on this side of the border when being on that side of the border it's so much cheaper tax wise, with no carbon tax either.

Then our dollar is really going to suffer

[NAME REMOVED]

On 11/15/2024 at 12:50 AM, CdnFox said:

Canadian dollar hits four-year low as 71 cent U.S. threshold nears | Financial Post

 

And that my friends is the sound of everything getting more expensive

This will be great for trade and the manufacturing sector!

"Over the medium term, however, there is reason for optimism. As noted, the CAD is undervalued relative to the USD by more than 10%, and once the domestic and global economies emerge from the slowdown, the CAD should benefit from improving global growth.

The bottom line is that the loonie is behaving as we would expect. The CADUSD will likely stay weak while the growth uncertainty hangs over the domestic and global economies. However, prospects should improve once the turbulence has passed."

https://russellinvestments.com/ca/blog/canadian-dollar#:~:text=A weak currency raises the,it supports the nation's exports.

[CdnFox]

57 minutes ago, DUI_Offender said:

This will be great for trade and the manufacturing sector!

 

up to a point. The gear and such that they use also comes from America. And America will be willing to pay higher dollars relative to the Canadian dollar for the materials which drives the price of the materials up at home. Then it makes it harder to sell those products when the price goes up

To the uneducated it may appear to be a short-term benefit but really it isn't. 

And sadly the only way the turbulence passes is if there's an election introduced thrown out. I have no doubt that it will be better when poilievre is elected, but by then real damage will have been done

[NAME REMOVED]

6 minutes ago, CdnFox said:

up to a point. The gear and such that they use also comes from America. And America will be willing to pay higher dollars relative to the Canadian dollar for the materials which drives the price of the materials up at home. Then it makes it harder to sell those products when the price goes up

Tell me you known nothing about economics, without explicitly stating you know nothing about economics...LOL

Edited November 17, 2024 by DUI_Offender

[CdnFox]

5 minutes ago, DUI_Offender said:

Tell me you known nothing about economics, without explicitly stating you know nothing about economics...LOL

LOL  well i guess thats all you can say when you realize you're wrong but you're too much of a **** to admit it  

Downturns in the dollar are not desirable for our industries. They hurt more than they help.  A slightly weaker dollar can have some benefit but 71 is not helpful at all. 

Sorry kid. Your grade 3 education and degree from Facebook U  has failed you again  

For our manufacturing sectors we would want to be more around 83 cents.  Some tourism may benefit a little bit more honestly from this but you weren't smart enough to realize that and again at this low of a dollar the negatives will quickly outweigh the positives. 

And how fast do you think our businesses will be upgrading their tech now that it costs even more than before?

Why do i always wind up having to explain the basics of things to you? Can't you look any of this up beyond a confirmatoin bias proving article or two now and again?

[NAME REMOVED]

8 minutes ago, CdnFox said:

Can you call me Pepe? Pepe means "student" in Spanish, and you have so much knowledge that I want to be your pupil. You own me on this forum.

Sure I can, Pepe.

I don;t really own anyone, but I agree that I am intellectually superior to you. 

Edited November 17, 2024 by DUI_Offender

[CdnFox]

6 minutes ago, DUI_Offender said:

Quote

Can you call me Pepe? Pepe means "student" in Spanish, and you have so much knowledge that I want to be your pupil. You own me on this forum.

Sure I can, Pepe.

I don;t really own anyone, but I agree that I am intellectually superior to you. 

LOLOL,  i've beaten you up so bad you're back to fantasy fake quoting?   

Do you have any idea how sad it is that you fantasize about me so much you literally type out pretending that somehow i ask YOU to be my 'teacher' (and in spanish no less? Oddly specific...)

Your sexual fantasies get weirder by the day    You're such a damaged little boy aren't you. 

 

[NAME REMOVED]

2 minutes ago, CdnFox said:

 

Your sexual fantasies get weirder by the day    You're such a damaged little boy aren't you. 

 

Can i dress you up in high heels, and a blonde wing, and have you call me "Daddy?"

[CdnFox]

 

4 minutes ago, DUI_Offender said:

Can i dress you up in high heels, and a blonde wing, and have you call me "Daddy?"

Sigh.  Even the most successful  go fund me campaign couldn't pay for the therapy you need  

You really shouldn't post drunk kid  

[NAME REMOVED]

5 minutes ago, CdnFox said:

 

Sigh.  Even the most successful  go fund me campaign couldn't pay for the therapy you need  

You really shouldn't post drunk kid  

I'm completely sober. It's well known Trump lovers have no sense of humor.

[CdnFox]

9 hours ago, DUI_Offender said:

I'm completely sober. It's well known Trump lovers have no sense of humor.

LOL well looks like your obsession with me kept you up all night  

If you were completely sober, that's even MORE embarrassing for you  

I love the "I was only kidding! Really!" routine tho     "I'm imagining you in women's cothing calling me teacher... but ahaha... just kidding! aheh !  "

Sure kid  

As to not having a sense of humour, i absolutely guarantee everyone's laughing at you   

Edited November 17, 2024 by CdnFox

[herbie]

18 hours ago, Aristides said:

The USD has been on a tear against other currencies since 2022

That goddam Biden, eh? His economy was so goddam bad their dollar soared.

On 11/15/2024 at 2:12 PM, CdnFox said:

Sure. Harper did.

See even your short term memory's failed. He didn't do f*ck all, the economy here managed better than the US did during the 2008 recesiion there.
Diefenbaker was the last PM that wanted to do something and that was to peg it against the US dollar. Since then the lower dollar has been used as a trade advantage.

Just wait and see if Trump's tariffs come into effect and you want to cross border shop with 69¢ dollars and much higher US prices.
And swallow the baloney when you buy Cdn goods made by Cdn workers from Cdn raw materials that the huge price increase was due to the exchange rate.
Why those Chilliwack corn cobs are $5 ea cuz the dollar went down a penny..... explains the Manager at GougeOn Foods.

[SkyHigh]

On 11/15/2024 at 12:50 AM, CdnFox said:

Canadian dollar hits four-year low as 71 cent U.S. threshold nears | Financial Post

 

And that my friends is the sound of everything getting more expensive

Though a weak dollar does have some disadvantages like lowering purchasing power, it also provides for goods manufactured in Canada to be more attractive to foreign buyers allowing for the multiplication of money in our economy therefore alleviating some of the aforementioned disadvantages.

If it doesn't stay deprecated for too long, it can have positives.

[CdnFox]

1 hour ago, SkyHigh said:

Though a weak dollar does have some disadvantages like lowering purchasing power, it also provides for goods manufactured in Canada to be more attractive to foreign buyers allowing for the multiplication of money in our economy therefore alleviating some of the aforementioned disadvantages.

If it doesn't stay deprecated for too long, it can have positives.

Not when it drops that low. The negatives tend to outweigh the positives. It creates rapid inflation for the workers Who will all demand higher wages and will be interested in giving it back when the dollar rises again. The equipment and maintenance contracts tend to cost more for the manufacturing equipment because many of the parts are technology come from the states. A lot of production facilities can't really increase their production overnight so they don't actually wind up selling a lot more

As I noted above a slightly weak Canadian dollar can have benefits for manufacturing and industry but not when it's this low.

Some tourism sectors may enjoy a benefit but that's about it and certainly not worth what it's going to do to the economy overall

[CdnFox]

4 hours ago, herbie said:

That goddam Biden, eh? His economy was so goddam bad their dollar soared.

It's soared under trump  

4 hours ago, herbie said:

See even your short term memory's failed. He didn't do f*ck all, the economy here managed better than the US did during the 2008 recesiion there.
Diefenbaker was the last PM that wanted to do something and that was to peg it against the US dollar. Since then the lower dollar has been used as a trade advantage.

Just wait and see if Trump's tariffs come into effect and you want to cross border shop with 69¢ dollars and much higher US prices.
And swallow the baloney when you buy Cdn goods made by Cdn workers from Cdn raw materials that the huge price increase was due to the exchange rate.
Why those Chilliwack corn cobs are $5 ea cuz the dollar went down a penny..... explains the Manager at GougeOn Foods.

Harper did a crap ton of things. He did so many things and he did them so well that other countries came to Canada to ask how the hell we managed to pull it off. Many of the things he did would have been done the very first time, and they were extremely Innovative. Shovel ready only infrastructure funding which worked out amazingly well, massive rebates for Home Improvements that improved the property or lowered energy use, refinancing the banks through the cmhc which actually made the government money, bunch of other things.

Sorry kid, sounds like you're the one with a short-term memory issue.

And there are almost no products made exclusively in Canada without purchases from the united states. And where we do produce it such as fuel we have to compete with the global rate or else they sell it elsewhere.

It's stunning how little you know.